Multiple Choice
A good is normal if the sign on the income elasticity formula is
A) Positive.
B) Greater than 1.
C) Less than 1.
D) Negative.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q118: Which of the following products will have
Q119: Demand is elastic if the consumer has
Q120: In the $160 to $180 price range
Q121: Total revenue is equal to<br>A)The income from
Q122: To find the average percentage change in
Q124: Supply is very inelastic if the quantity
Q125: If the cross-price elasticity of demand for
Q126: If a good is inferior,its<br>A)Cross-price elasticity is
Q127: Income elasticity measures the<br>A)Responsiveness of quantity demanded
Q128: If the price elasticity of demand is